Latest reports show that the global immunomodulators market is projected to reach USD 255.67 billion by 2028, at a CAGR of 5.15% from 2021 to 2028. Immunomodulators are drugs used to regulate the immune response in a variety of conditions, including autoimmune diseases and cancer.
This growth is attributed to the increasing prevalence of chronic diseases, such as diabetes and cancer, the increasing number of clinical trials, and the growing need for targeted treatments. Additionally, a growing number of biopharmaceutical companies are investing in research and development activities to develop more effective immunomodulators.
Challanges of Global Immunomodulators Market
- Lack of awareness and understanding regarding immunomodulatory therapies: One of the biggest challenges facing the global immunomodulators market is the lack of awareness and understanding regarding immunomodulators and their potential therapeutic benefits. Many patients and physicians are unaware of the potential benefits of immunomodulatory therapies, leading to underutilization of these treatments.
- High cost of immunomodulatory therapies: The cost of immunomodulatory therapies is generally higher than that of other treatments, especially in developed countries. This makes these treatments prohibitively expensive for many patients, resulting in a lack of access to these therapies.
- Regulatory challenges: The regulatory environment for immunomodulatory therapies is very complex, with different countries having different regulatory frameworks. This makes it difficult for companies to launch and market their products, as well as for patients to access these treatments.
- Limited availability of effective therapies: Another challenge facing the global immunomodulators market is the limited availability of effective therapies. While many immunomodulatory drugs are available, there are still few that have proven effective in clinical trials.
- Competition from generic drugs: The availability of generic versions of immunomodulators is increasing, which is putting pressure on the market. Generic drugs are usually cheaper than branded drugs and can be used to treat the same conditions, making them a viable alternative for many patients.
Global immunomodulators market is segmented by drug class, application, and region. By drug class, the market is divided into monoclonal antibodies, interleukins, immunosuppressants, and others. By application, the market is divided into autoimmunity, infectious diseases, cancer, and others. By region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The North America region accounted for the largest share of the global market in 2020, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. This is attributed to the increasing prevalence of chronic diseases, such as diabetes and cancer, the presence of a large number of leading players in the region, and the availability of advanced healthcare infrastructure.
The major players in the global immunomodulators market include AbbVie, Inc., F. Hoffmann-La Roche Ltd., Merck & Co., Inc., Novartis AG, Sanofi, Pfizer, Inc., GlaxoSmithKline plc, Amgen, Inc., Johnson & Johnson, and Bristol-Myers Squibb Company.